**EMISSION CONTROL DEVICES, INC.**

**U.S. SECURITIES AND EXCHANGE COMMISSION**

**Washington, D. C. 20549**

**FORM 10-QSB**

(X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended: September 30, 2001

(  ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from           to

Commission File number: 0-30689

**EMISSION CONTROL DEVICES, INC.**

(Exact name of registrant as specified in charter)

|**Nevada**                                                     | **84-0989940**            
|-------------------------------------------------------------- | --------------------------
|(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer I.D. No.)

**8612 Wilkinson Blvd., Charlotte. NC                   28214**

(Address of principal executive offices)              (Zip Code)

Issuer's telephone number, including area code: **704-392-4188**

Check whether the Issuer (1 ) filed all reports required to be filed by section 13 or 15 (d) of the Exchange Act during the past 12
months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

(1) Yes [X]   No [ ] (2)  Yes [X]    No [  ]

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE
YEARS:

Check whether the registrant has filed all documents and reports required to be filed by Sections 12, 13, or 15(d)of the Exchange
Act subsequent to the distribution of securities under a plan confirmed by a court.

Yes [ ] No [ ]

(APPLICABLE ONLY TO CORPORATE REGISTRANTS)

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the last practicable date.

Class                                                Outstanding as of September 30, 2001

Common Stock, $0.001                                           11,486,964

Transitional Small Business Format: Yes [ ] No [X]

Documents incorporated by reference: None

FORWARD-LOOKING INFORMATION

THIS FORM 10QSB AND OTHER STATEMENTS ISSUED OR MADE FROM  TIME TO TIME BY THE COMPANY OR
ITS REPRESENTATIVES CONTAIN  STATEMENTS WHICH MAY CONSTITUTE "FORWARD-LOOKING
STATEMENTS" WITHIN THE MEANING OF THE SECURITIES ACT OF 1933 AND THE SECURITIES EXCHANGE
ACT OF 1934, AS AMENDED BY THE PRIVATE SECURITIES LITIGATION REFORM  ACT OF 1995, 15 U.S.C.A.
SECTIONS 77Z-2 AND 78U-5. THOSE STATEMENTS INCLUDE STATEMENTS REGARDING THE INTENT, BELIEF
OR CURRENT EXPECTATIONS  OF THE COMPANY AND MEMBERS OF ITS MANAGEMENT TEAM AS WELL AS
THE ASSUMPTIONS ON WHICH SUCH STATEMENTS ARE BASED.

PROSPECTIVE INVESTORS ARE CAUTIONED THAT ANY SUCH FORWARD-LOOKING STATEMENTS ARE NOT
GUARANTEES OF FUTURE PERFORMANCE AND INVOLVE

RISKS AND UNCERTAINTIES, AND THAT ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE
CONTEMPLATED BY SUCH FORWARD-LOOKING STATEMENTS. IMPORTANT FACTORS CURRENTLY KNOWN
TO MANAGEMENT THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM  THOSE IN
FORWARD- LOOKING STATEMENTS ARE SET FORTH HEREIN. THE COMPANY UNDERTAKES NO OBLIGATION
TO UPDATE OR REVISE FORWARD-LOOKING STATEMENTS TO REFLECT CHANGED ASSUMPTIONS, THE
OCCURRENCE OF UNANTICIPATED EVENTS OR CHANGES TO  FUTURE OPERATING RESULTS OVER TIME.

**PART I - FINANCIAL INFORMATION**

**ITEM 1.  FINANCIAL STATEMENTS**

The accompanying balance sheets of Emission Control Devices, Inc. (a development stage company) at September 30, 2001 and
December 31, 2000, and the statements of operations for the three and nine month periods ended September 30, 2001 and 2000
and the period from January 1, 1997 to September 30, 2001, and the cash flows for the nine months ended September 30, 2001
and 2000, and the period from January 1, 1997 to September 30, 2001, have been prepared by the Company's management and
they include all information and notes to the financial statements necessary for a complete presentation of the financial position,
results of operations, and cash flows in conformity with generally accepted accounting principles. In the opinion of management,
all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included
and all such adjustments are of a normal recurring nature.

Operating results for the quarter ended September 30, 2001 are not necessarily indicative of the results that can be expected for
the year ending December 31, 2001.

|**EMISSION CONTROL DEVICES, INC. AND SUBSIDIARY**
|-------------------------------------------------
|( Development Stage Company )                    
|**CONSOLIDATED BALANCE SHEETS**                  
|(Unaudited)                                      

|                                                                                           | **September 30,** | **December 31,**
|------------------------------------------------------------------------------------------ | ----------------- | ----------------
|                                                                                           | **2001**          | **2000**        
|                                                                                           | **-------**       | **-------**     
|**ASSETS**                                                                                 |                   |                 
|CURRENT ASSETS                                                                             |                   |                 
|Current Assets                                                                             |                   |                 
|Cash                                                                                       | $    38           | $     947       
|Notes Receivable - shareholder                                                             | 400               | -               
|                                                                                           | --------          | --------        
|Total Current Assets                                                                       | 438               | 947             
|                                                                                           | --------          | --------        
|                                                                                           | $   438           | $   947         
|                                                                                           | ========          | ========        
|**LIABILITIES AND
STOCKHOLDERS' (DEFICIT)**                                                |                   |                 
|CURRENT LIABILITIES                                                                        |                   |                 
|Accounts payable                                                                           | $     -           | $ 2,700         
|                                                                                           | -------           | --------        
|Total Current Liabilities                                                                  | -                 | 2,700           
|                                                                                           | -------           | --------        
|STOCKHOLDERS' (DEFICIT)                                                                    |                   |                 
|Common stock                                                                               |                   |                 
|100,000,000 shares authorized,

$.001 par value, 11,486,964

shares issued and outstanding | 11,487            | 11,487          
|Capital in excess of par value                                                             | (9,487)           | (12,187)        
|Retained earnings (deficit) accumulated
during the development stage                       | (1,562)           | (1,053)         
|                                                                                           | --------          | --------        
|Total Stockholders' (Deficit)                                                              | $    438          | $ (1,753)       
|                                                                                           | --------          | --------        
|                                                                                           | $    438          | $    947        
|                                                                                           | ========          | ========        

The accompanying notes are an integral part of these unaudited condensed financial statements.



|**EMISSION CONTROL DEVICES, INC. AND SUBSIDIARY**
|-------------------------------------------------
|(Development Stage Company)                      
|**CONSOLIDATED STATEMENTS OF OPERATIONS**        
|(Unaudited)                                      

|                              | **Three Months
Ended September
30, 2001** | **Three Months
Ended September
30, 2000** | **Nine Months
Ended September
30, 2001** | **Nine Months
Ended September
30, 2000** | **Cumulative from
the Re-entering of
Development Stage
on November 9,
2000 through
September 30,
2001**
|----------------------------- | ----------------------------------------- | ----------------------------------------- | ---------------------------------------- | ---------------------------------------- | -------------------------------------------------------------------------------------------------------
|REVENUE                       | $    -                                    | $    -                                    | $ 1,089                                  | $    -                                   | $ 1,089                                                                                                
|                              | --------                                  | ------------                              | ---------                                | ---------                                | ----------                                                                                             
|EXPENSES:                     |                                           |                                           |                                          |                                          |                                                                                                        
|General and
administrative    | 33                                        | -                                         | 1,598                                    | 1,150                                    | 2,651                                                                                                  
|                              | ---------                                 | -----------                               | ----------                               | ---------                                | -----------                                                                                            
|Total Expenses                | 33                                        | -                                         | 1,598                                    | 1,150                                    | 2,651                                                                                                  
|                              | ---------                                 | -----------                               | ----------                               | ---------                                | ----------                                                                                             
|INCOME (LOSS)
FROM
OPERATIONS | $(33)                                     | $    -                                    | $ (509)                                  | $(1,150)                                 | $(1,562)                                                                                               
|                              | =======                                   | ======                                    | =======                                  | ======                                   | =======                                                                                                
|NET LOSS PER
COMMON SHARE     |                                           |                                           |                                          |                                          |                                                                                                        
|Basic                         | $     -                                   | $    -                                    | $    -                                   | $    -                                   |                                                                                                        
|                              | ----------                                | -----------                               | ------------                             | ----------                               |                                                                                                        
|AVERAGE
OUTSTANDING
SHARES    |                                           |                                           |                                          |                                          |                                                                                                        
|Basic
(stated in 1000's)      | 11,487                                    | 11,487                                    | 11,487                                   | 11,487                                   |                                                                                                        
|                              | ---------                                 | ----------                                | -----------                              | ---------                                |                                                                                                        

The accompanying notes are an integral part of these unaudited condensed financial statements.



|**EMISSION CONTROL DEVICES, INC. AND SUBSIDIARY**
|-------------------------------------------------
|(Development Stage Company)                      
|**CONSOLIDATED STATEMENTS OF CASH FLOWS**        
|(Unaudited)                                      

|                                                                            | **For the Nine Months Ended
September 30, 2001** | **For the Nine Months Ended
September 30, 2000** | **Cumulative from the
Re-entering of Development
Stage on November 9, 2000
through September 30, 2001**
|--------------------------------------------------------------------------- | ------------------------------------------------ | ------------------------------------------------ | -------------------------------------------------------------------------------------------------------
|Cash Flows From Operating
Activities:                                       |                                                  |                                                  |                                                                                                        
|Net income (loss)                                                           | $ (509)                                          | $(1,150)                                         | $ (1,562)                                                                                              
|Adjustments to reconcile net
loss to net cash used by
operating activities: |                                                  |                                                  |                                                                                                        
|Changes in accounts payable                                                 | -                                                | (2,000)                                          | -                                                                                                      
|Issuance of capital stock for
expenses                                      | -                                                | 2,667                                            | -                                                                                                      
|Note receivable - shareholder                                               | (400)                                            | -                                                | (400)                                                                                                  
|                                                                            | -----------                                      | ------------                                     | ----------                                                                                             
|Net Cash (Used) by Operating
Activities                                     | (909)                                            | (483)                                            | (1,962)                                                                                                
|                                                                            | -----------                                      | ------------                                     | ----------                                                                                             
|Cash Flows From Investing
Activities                                        | -                                                | -                                                | -                                                                                                      
|                                                                            | -----------                                      | ------------                                     | -----------                                                                                            
|Net Cash (Used) by Investing
Activities                                     | -                                                | -                                                | -                                                                                                      
|                                                                            | -----------                                      | ------------                                     | -----------                                                                                            
|Cash Flows From Financing
Activities                                        |                                                  |                                                  |                                                                                                        
|Proceeds from issuance of
common capital stock                              | -                                                | -                                                | 2,000                                                                                                  
|                                                                            | -----------                                      | ------------                                     | ----------                                                                                             
|Net Cash (Used) by Financing
Activities                                     | -                                                | -                                                | 2,000                                                                                                  
|                                                                            | -----------                                      | -----------                                      | ----------                                                                                             
|Net Increase in Cash                                                        | (909)                                            | (483)                                            | 38                                                                                                     
|Cash at Beginning of Period                                                 | 947                                              | 483                                              | -                                                                                                      
|                                                                            | ---------                                        | ---------                                        | ---------                                                                                              
|Cash at End of Period                                                       | $ 38                                             | $     -                                          | $ 38                                                                                                   
|                                                                            | =======                                          | =======                                          | ======                                                                                                 
|Supplemental Disclosures of
Cash Flow Information:                          |                                                  |                                                  |                                                                                                        
|Cash paid during the period
for:                                            |                                                  |                                                  |                                                                                                        
|Interest                                                                    | $     -                                          | $     -                                          | $    -                                                                                                 
|Income taxes                                                                | $     -                                          | $     -                                          | $    -                                                                                                 

The accompanying notes are an integral part of these unaudited condensed financial statements.



**EMISSION CONTROL DEVICES, INC. AND SUBSIDIARY**

**NOTES TO FINANCIAL STATEMENTS**

==========================================================================

**1.   ORGANIZATION**

The Company was incorporated under the laws of the State of Colorado on May 16, 1985 with the name of "Mountain Ashe,
Inc." with authorized common stock of 100,000,000 shares with a par value of $0.0001.  On September 23, 1987 the name was
changed to "Holographic Systems, Inc." and on February 7, 2000 the domicile was changed to the state of Nevada in connection
with a change in par value to  $0.001. On January 22, 2001 the Company changed its name to Emission Control Devices, Inc. as
a part of the acquisition of all of the outstanding stock of Emission Control Devices, Inc. (a North Carolina corporation). Note 3

On February 7,  2000  the Company completed a reverse common stock split of one share for 20 outstanding shares. This report
has been prepared showing after stock split shares with a par value of $.001 from inception.

After 1996 the Company is considered to be a development stage company.

**2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

Accounting Methods

The Company recognizes income and expenses based on the accrual method of accounting.

Dividend Policy

The Company has not adopted a policy regarding payment of dividends.

Income Taxes

At September 30, 2001  the Company  had a  net operating loss  carry forward of  $1,562. The income tax benefit of $468 from
the loss carry forward has been fully offset by a valuation reserve because the use of the future tax benefit is undeterminable
since the Company has no operations. The loss carryover will expire in 2022.

Earnings (Loss) Per Share

Earnings (loss) per share amounts are computed based on the weighted average number of common shares actually outstanding,
after stock splits.

Financial Instruments

The carrying amounts of financial instruments, including cash and accounts payable,  are considered by management to be their
estimated fair values.

Estimates and Assumptions

Management uses estimates and assumptions in preparing financial statements in accordance with generally accepted accounting
principles.  Those estimates and assumptions affect the reported amounts of the assets and liabilities, the disclosure of contingent
assets and liabilities, and the reported revenues and expenses.  Actual results could vary from the estimates that were assumed in
preparing these financial statements.

Principals of Consolidation

The consolidated financial statements shown in this report exclude the historical operating information of the parent before
December 31, 2000, and include the operating information of the subsidiary from its inception.

All intercompany transactions have been eliminated.

Comprehensive Income

The Company adopted Statement of Financial Accounting Standards No. 130. The adoption of this standard had no impact on
the total stockholder's equity.

Recent Accounting Pronouncements

The Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its
financial statements.

**3. ACQUISITION OF ALL OUTSTANDING STOCK OF EMISSION CONTROL DEVICES, INC.**

On December 31, 2000 the Company (parent) completed the acquisition of all the outstanding stock of Emission Control
Devices, Inc. (subsidiary), by a stock for stock exchange in which the stockholders of the subsidiary received 10,000,000 shares
of the parent representing 91% of the outstanding stock of the parent. For reporting purposes, the acquisition is treated as an
acquisition of the parent by the subsidiary (reverse acquisition) and a recapitalization of the subsidiary. The historical operating
information prior to December 31, 2000 is that of the subsidiary. The only asset owned by the subsidiary is a license agreement
described below, therefore, no value was recognized from the acquisition.

The subsidiary was organized in the state of North Carolina on November 9, 2000 for the purpose of developing and marketing
an exclusive licensing agreement, obtained from a related party, covering an emission control device.

**4.  GOING CONCERN**

The Company will need additional working capital to service its debt and for its planned activity.

Continuation of the Company  as a going concern is dependent upon obtaining additional working capital and the management
of the Company has developed a strategy, which it believes will accomplish this objective through additional equity funding and
long term financing which will enable the Company to operate for the coming year.

**5. RELATED PARTY TRANSACTIONS**

Related parties have acquired 67% of the outstanding common capital stock.

**ITEM 2.  PLAN OF OPERATIONS**

**MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION OR PLAN OF OPERATION**

Plan of Operation

We hold two licenses that have been assigned from Unlimited Technologies International, Inc. covering motorcycle emission
control devices and industrial forklift emission control devices.  At this time, the license covering industrial fork lifts (South
Industrial Equipment d/b/a/ Envirolift) is the only license resulting in sales, and this license is currently being expanded to cover
OEM's of forklifts in addition to retrofits, and is expected to generate sales of approximately 300 units per month and revenues
in excess of $30,000 per month. To date, however, the sales that have been generated pursuant to the fork lift application have
been booked by Unlimited Technologies International, Inc., a private company, with which we share office and manufacturing
space, as well as employees.  We are presently working to transition operations and sales from the private company to our public
company. We originally expected this process to take up to six months.  However, we presently anticipate that this process will
not be completed until the end of the year. Until that time, our sales, as indicated in the attached financial statements, will be
negligible. Conversely, our expenses will continue to be negligible as well, as Unlimited Technologies International, Inc. is
presently solely responsible for all expenses of operations.

Liquidity, Capital Resources and Need for Additional Financing

We have depleted our cash resources, and do not presently have the funds or capital resources to fully develop our technology or
to sustain our operations to the point that our operating cash flow is positive, or to pay for the costs of transitioning our business
from Unlimited Technologies International, Inc.   The expected costs to meet these objectives is in excess of $100,000.00.  If we
are unable to secure debt or equity financing, we may be forced to cease operations, or we may continue to have negligible
operations.

Results of Operations

During the period from January 1, 2001 through September 30, 2001, we have engaged in no significant operations other than
maintaining our reporting status and booking isolated, limited revenues from one of our license agreements.  For the current
year, we anticipate incurring a loss as a result of legal and accounting expenses, and the expenses associated with the transition
from Unlimited Technologies International, Inc.

Need for Additional Financing

Based upon current management's willingness to extend credit to the Company and/or invest in the Company until a business
combination is completed, the Company believes that its existing capital will be sufficient to meet the Company's cash needs
required for the costs of compliance with the continuing reporting requirements of the Securities Exchange Act of 1934, as
amended, and for the costs of accomplishing its goal of completing a business combination, for an indefinite period of time.
Accordingly, in the event the Company is able to complete a business combination during this period, it anticipates that its
existing capital will be sufficient to allow it to accomplish the goal of completing a business combination. There is no assurance,
however, that the available funds will ultimately prove to be adequate to allow it to complete a business combination, and once a
business combination is completed, the Company's needs for additional financing are likely to increase substantially.  In
addition, as current management is under no obligation to continue to extend credit to the Company and/or invest in the
Company, there is no assurance that such credit or investment will continue or that it will continue to be sufficient for future
periods.

**Part II - Other Information**

**Item 1.   Legal Proceedings**

None; not applicable.

**Item 2.  Changes in Securities.**

None; not applicable.

**Item 3.   Defaults Upon Senior Securities.**

None; not applicable.

**Item 4.   Submission of Matters to a Vote of Security Holders.**

None; not applicable.

**Item 5.   Other Information.**

None; not applicable.

**Item 6.   Exhibits and Reports on Form 8-K.**

No other exhibits were filed on Form 8-K.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.

Emission Control Devices, Inc.

Date:   November 14, 2001                      By   /s/ Russell A Masters

------------------------------------

Russell A. Masters, President